Raser secured the rights in the most recent lease agreements to the geothermal resources on more than 7,100 acres located in two counties in southern Utah, US.
The lease terms are for 10 years and are renewable for additional periods based on development activity or upon the payment of minimum rental payments. The financial terms of the leases are undisclosed.
Brent Cook, CEO of Raser, said: We continue to see increasing demand for renewable, green electric power, and with this addition to our land holdings, we continue to position ourselves to take advantage of these favorable market dynamics.
